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WIKI ANALYSIS
Orbitz (NYSE:OWW) Worldwide is a Chicago based online travel company that enables leisure and business travelers to research, plan and book a broad range of travel products. Orbitz Worldwide owns and operates a portfolio of consumer brands that includes Orbitz, CheapTickets, ebookers, HotelClub, RatesToGo, the Away Network and corporate travel brand Orbitz for Business. Orbitz’s main competitors in online travel field are Priceline, Expedia and Travelocity. Orbitz was established in 1999 through a partnership with the airline industry. These investors consisted of American Airlines, Continental Airlines, Delta Air Lines, Northwest Airlines and United Air Lines. Orbitz Worldwide was formed through the combination of Orbitz and the online travel assets of Cendant's travel distribution services division and became a public company in July 2007. [1]
The weakening US economy[2], fluctuating currency movements, and better capitalized competitors continues to weigh Orbitz’s revenue. Orbitz has taken step to reverse it’s performance and strengthen it’s balance sheets. According to Orbitz this includes changes in management, a new push to highlight price savings and assurance for consumers, and substantially cutting there cost.
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